In recent years, Saudi Arabia has made significant investments in the video game industry through Savvy Games, a group founded via the Public Investment Fund. Thanks to this, it owns SNK and holds a substantial stake in other Japanese companies such as Capcom and Nintendo.
Recently, reports suggested that Saudi Arabia was preparing to invest more in the company behind Mario and other developers in the region. Surprisingly, this morning it was revealed that Savvy Games reduced its stake in Nintendo.
Despite this, it remains one of the largest shareholders of the company led by Shuntaro Furukawa. Additionally, its plans to invest in other Japanese studios and expand its presence in the region are still on track.
Saudi Arabia now holds fewer shares in Nintendo
It was in May 2022 that Saudi Arabia opened its wallet to acquire 5.01% of Nintendo's shares. The company expressed surprise at the move and claimed they only found out when the news hit the headlines. Later, in mid-2023, the Public Investment Fund bought more shares, eventually controlling 8.58% of the company.
Surprisingly, Saudi Arabia now holds fewer Nintendo shares. Initially, reports suggested that the Public Investment Fund's plan was to invest even more in the company behind The Legend of Zelda; however, that is no longer the case.
In reality, Prince Faisal bin Bandar bin Sultan Al-Saud, vice president of Savvy Games, aims to invest broadly in the Japanese video game industry rather than purchasing more Nintendo shares. With these new moves, Saudi Arabia now holds 7.54%, down from 8.58%, of Nintendo's shares. Nevertheless, Savvy Games remains one of the largest shareholders of the entertainment company.
It's worth mentioning that Saudi Arabia has also invested in companies like Activision Blizzard, Electronic Arts, Take-Two, Capcom, and Embracer Group. In the coming months, more news is expected about their new investments in Japan.
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